Finnish startup launches funding for electric limitless-range boat

Helsinki-based startup Juva Yachts has launched its first funding round. The firm is raising €500,000 to build a prototype of its Juva e/y 30, an all-electric cabin cruiser with a limitless range.

If the round is successful, Juva says it hopes to begin prototype production this April, completing the first boat in November 2023. Funds will also be used to strengthen the team and expand into the first markets of northern and central Europe and the US.

After the prototype, Juva says the cost for serial production of boat manufacturing (with one set of moulds) will be €98,000, producing one boat a week.

The Juva e/y 30 is 100 per cent electric, complete with a solar roof, and energy autonomy at 2-3 knots. There are three sizes of battery packs on offer, 46,70 and 93 kWh, within the plans. The Juva Foil is said to reduce resistance by 10-15 per cent at 3-12 knots, leaving minimal wake and zero noise and emissions.

The boat can reach a top speed of 12 knots and comfortably cruise at 6-10 knots.

Using innovative vacuum-infusion technology means that the boat will be manufactured with recycled materials, resulting in lightweight structures, with the hull and deck core materials made from recycled plastic bottles.

At 9.3m, the boat’s design has a clean Scandinavian functional layout, with a free-flow space between the aft deck and pilothouse, with enough space to sleep up to four people in the main double cabin and two additional cabins. Continuing electrification within the living space is the electric bathroom, including a rain shower and electric AC, and the option for heating in the colder climes.

The project started in February 2022, founded by Oskari Juva, a professional seafarer and a seasoned business developer at various startups. By October 2022, Juva had completed the concept and mould design.

Commenting on the round, Oskari Juva says: “Having spent all my life on the water, I felt the need to do something in order to give the next generation the same chance to enjoy our wonderful seas. We have been working hard to create a boating experience that serves the needs of both today and tomorrow.

“With our own personal sailing knowledge combined with decades of yacht design experience I’m confident to say we have created something extremely appealing. We are happy and excited to welcome new investors to join the crew before we truly put the wind in our sails.”